Jersey Fiduciary Industry Conducts Mock Trial
Thursday, October 21, 2010
Senior members of the Jersey fiduciary sector were put through their paces at
a mock trial conducted by Carey Olsen and Wilberforce Chambers, at the Pomme D'Or
Hotel last week.
At the mock trial, more than 100 senior trust professionals were set a challenge
to either defend or attack a trustee’s decision to move GBP5m from a trust
to a beneficiary’s account. The aim of the day, which included workshops,
interactive sessions and the mock trial, was to remind trust practitioners
of the duties involved in the decision-making process and what can happen when
a decision ends up in litigation.
Carey Olsen partners Robert MacRae and Paul Buckle worked with Wilberforce
Chambers’ barristers Michael Furness QC, Daniel Hochberg, Robert Ham QC
and Judith Bryant in hosting the event, giving their expert views on the scenario
Advocate MacRae defended the trustee’s decision while Daniel Hochberg
attacked the decision, calling for it to be set aside. Robert Ham QC acted as
the trial judge and put the litigators through their paces before ruling in
favour of the defence.
“The topic of trustee decision making is very much in the spotlight at
the moment and, while it is something trustees do all the time, it is perhaps
particularly topical at present due to the serious challenges being made to
the ruling in Hastings Bass - principally by HMRC,” said Advocate MacRae.
The Hastings Bass ruling sets out when a court may intervene in cases where a trustee acts under his or her own discretion, particularly in cases involving tax.